Ukraine to receive direct control of imaging satellites for enhanced intelligence and scalable monitoring of military movements, safety corridors, and critical infrastructure
NEW YORK--(BUSINESS WIRE)--Mar. 21, 2022--
Satellogic Inc. (NASDAQ:SATL) a leader in sub-meter resolution satellite imagery collection, announced a collaboration with Washington, D.C.-based Halifax International Security Forum (“HFX”), an independent, non-profit, non-partisan organization dedicated to strengthening strategic cooperation among democratic nations, to provide the Ukrainian government with a Dedicated Satellite Constellation (“DSC”), a fleet of satellites over a specific area.
This effort is in response to the call from the Ukrainian Ministry of Defence asking for help in raising funds for Satellogic’s DSC service. Satellogic prepared a contract for its DSC service at a significantly reduced price and expedited timeline for activation. HFX volunteered to raise funds for the service on behalf of Ukraine.
Currently, Ukraine is receiving satellite imagery from friendly governments and private companies but it is unable to task those satellites according to its own needs. The Ukrainian government will have direct control of the DSC, enabling Ukraine to manage a fleet of satellites for encrypted tasking and satellite imagery access over its sovereign territory. The DSC will drastically increase the country’s access to high-resolution images and video intelligence from low Earth orbit.
Access to timely, high-resolution satellite imagery will provide actionable information for the Ukrainian government to mobilize resources and evacuate civilians. The widespread scale of the invasion requires the vantage point of space; the DSC will enable Ukraine to capture up to eight areas of interest of its choosing every day to monitor and address changing ground conditions across its sovereign territory and borders.
“The Dedicated Satellite Constellation service is designed to democratize access to space, enabling Geospatial Intelligence autonomy for advanced national security. It is a flexible and affordable satellite-as-a-service model that delivers modernized capabilities without costly investments in infrastructure, launches, and operations,” stated Emiliano Kargieman, CEO and Co-Founder at Satellogic. “The DSC will give the Ukrainian government a detailed, timely, and scalable perspective of its country and changing ground conditions that can be used now to protect its citizens and later for reconstruction and recovery efforts.”
HFX has launched a $10 million appeal – through its Ukraine Victory Fund – for the DSC for Ukraine.
“We are choosing to aid Ukraine in the best way we can, delivering advanced capabilities for critical intelligence that will enable more timely and informed strategic decisions,” said Peter Van Praagh, President of HFX.
About Satellogic
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ:SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated Earth Observation (“EO”) platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.
Satellogic’s mission is to democratize access to geospatial data of high-resolution images and analytics through its information platform to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.
With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.
Find out more at https://satellogic.com/
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by, an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Satellogic’s ability to scale its constellation, (ii) Satellogic’s ability to continue to meet image quality expectations, to continue to enhance the capability of its network of satellites and to continue to offer superior unit economics, (iii) Satellogic’s ability to become or remain an industry leader, (iv) the number of commercial applications for Satellogic’s products and services, (v) Satellogic’s ability to address all commercial applications for satellite imagery, changes in the competitive and highly regulated industries in which Satellogic operates, variations in operating performance across competitors and changes in laws and regulations affecting Satellogic’s business, (vi) the ability to implement business plans, forecasts and other expectations, and to identify and realize additional opportunities, (vii) the risk of downturns in the commercial launch services, satellite and spacecraft industry, (viii) the risk that Satellogic and its current and future collaborators are unable to successfully develop and commercialize Satellogic’s products or services, or experience significant delays in doing so, (ix) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (x) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xi) the risk that Satellogic is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s registration statement on Form F-1 and the prospectus included therein and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.
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Investor Relations:
MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
SATL@mzgroup.us
Media Relations:
Satellogic
pr@satellogic.com
Source: Satellogic Inc.
